News

European Stocks Finish Higher

4.8

Charles M. Hall

January 25, 2024

European stocks ended on a positive note on Thursday, with the Stoxx Europe 600 index (XX:SXXP) recording a 0.30% increase to reach 478.53.

Major Gains and Losses

The French CAC 40 index (FR:PX1) saw a gain of 0.11% to close at 7,464.20.
The German DAX (DX:DAX) rose by 0.10% to finish at 16,906.92.
The FTSE 100 index (UK:UKX) remained stable at 7,529.73.

Among the companies listed in the Stoxx Europe 600 index, Dr. Martens PLC (UK:DOCS) experienced the largest increase with their shares surging by 12.0%.

Other notable gainers include:

Technology firm Nokia Corp. (FI:NOKIA) with an impressive 11.2% gain.
Technology company Samhaellsbyggnadsbolaget i Norden AB Series B (SE:SBB) also performed well, witnessing an 11.1% surge.
Netcompany Group A/S (DK:NETC), a technology company, and Intermediate Capital Group PLC (UK:ICP), an investing/securities company, rounded out the top five gainers with their stocks increasing by 9.1% and 8.6% respectively.

On the other hand, IG Group Holdings PLC (UK:IGG), an investing/securities company, reported the largest decline among Stoxx Europe 600 constituents as its shares dropped by 7.6% on Thursday.

Other notable decliners include:

Business services firm Teleperformance SE (FR:TEP) experienced a 6.2% fall.
Banking/credit company Bankinter S.A. (ES:BKT) witnessed a decline of 6.0%.

Completing the list of top five decliners are Close Brothers Group PLC (UK:CBG), an investing/securities company, and Auto1 Group SE (XE:AG1), a retail company, with their stocks falling by 5.9% and 5.8% respectively.

Currency and Commodities

In the currency market:

The pound (GBPUSD) saw a 0.24% decrease against the dollar.
The euro (EURUSD) also experienced a decline of 0.46%.

Regarding commodities:

Brent crude (UK:BRN00) added 1.78% to reach $81.05.

Bond Yields

The yield on the 10-year gilt (BX:TMBMKGB-10Y) fell by 2.72 basis points to 3.985%. Meanwhile, the yield on the German 10-year bund (BX:TMBMKDE-10Y) declined by 4.940 basis points to 2.29%.